StockNews.com Lowers Hologic (NASDAQ:HOLX) to Buy

Hologic (NASDAQ:HOLX) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Wednesday.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of Hologic from $91.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Hologic in a report on Tuesday. Stephens reissued an “overweight” rating and set a $92.00 target price on shares of Hologic in a research note on Tuesday, July 30th. Evercore ISI upped their target price on Hologic from $76.00 to $78.00 and gave the company an “in-line” rating in a report on Tuesday, July 30th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $82.00 price target on shares of Hologic in a research report on Friday, August 16th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $87.60.

Hologic Price Performance

HOLX opened at $82.40 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.99 and a quick ratio of 3.32. The stock’s 50 day simple moving average is $80.63 and its 200 day simple moving average is $77.01. The firm has a market cap of $19.23 billion, a price-to-earnings ratio of 42.04, a PEG ratio of 2.53 and a beta of 0.98. Hologic has a 1 year low of $64.02 and a 1 year high of $84.67.

Hologic (NASDAQ:HOLX) last issued its earnings results on Monday, July 29th. The medical equipment provider reported $1.06 EPS for the quarter, topping the consensus estimate of $1.02 by $0.04. Hologic had a net margin of 17.59% and a return on equity of 19.53%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. During the same period in the previous year, the firm earned $0.93 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, analysts predict that Hologic will post 4.09 earnings per share for the current year.

Insider Buying and Selling at Hologic

In other Hologic news, CEO Stephen P. Macmillan sold 3,672 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $80.13, for a total transaction of $294,237.36. Following the completion of the sale, the chief executive officer now owns 1,157,562 shares of the company’s stock, valued at $92,755,443.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Stephen P. Macmillan sold 3,672 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $80.13, for a total value of $294,237.36. Following the completion of the transaction, the chief executive officer now owns 1,157,562 shares of the company’s stock, valued at $92,755,443.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Christiana Stamoulis sold 9,039 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $79.50, for a total value of $718,600.50. Following the completion of the transaction, the director now directly owns 45,472 shares of the company’s stock, valued at approximately $3,615,024. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,280 shares of company stock valued at $1,469,973. Company insiders own 1.75% of the company’s stock.

Hedge Funds Weigh In On Hologic

A number of hedge funds have recently made changes to their positions in HOLX. Innealta Capital LLC bought a new position in shares of Hologic in the second quarter worth about $25,000. iA Global Asset Management Inc. bought a new position in Hologic during the first quarter valued at approximately $37,000. Sunbelt Securities Inc. bought a new position in Hologic during the second quarter valued at approximately $37,000. Cranbrook Wealth Management LLC bought a new position in Hologic during the second quarter valued at approximately $47,000. Finally, Mather Group LLC. bought a new position in Hologic during the first quarter valued at approximately $48,000. Institutional investors own 94.73% of the company’s stock.

About Hologic

Hologic, Inc develops, manufactures, and supplies diagnostics products, medical imaging systems, and surgical products for women's health through early detection and treatment. The company operates through four segments: Diagnostics, Breast Health, GYN Surgical, and Skeletal Health. It provides Aptima molecular diagnostic assays to detect the infectious microorganisms; Aptima viral load assays for Hepatitis B virus, Hepatitis C virus, human immunodeficiency virus, and human cytomegalo virus; Aptima bacterial vaginosis and candida vaginitis assays for the diagnosis of vaginitis; Aptima SARS-CoV-2 and Panther Fusion SARS-CoV-2 assays to detect SARS-CoV-2; ThinPrep System for cytology applications; and Rapid Fetal Fibronectin Test that assists physicians in assessing the risk of pre-term birth.